An expert says the housing market is unlikely to crash despite prices experiencing their largest quarterly drop in more than a decade, Newshub reveals. Main centres are bearing the brunt of the rising interest rates and tightening bank credit with prices falling -1.5% over the last three month period in the Auckland region. But despite the drops, GV general manager David Nagel said the strict credit rules and increasing interest rates mean first home buyers might still miss out.

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